Report: BP Executive Predicts Further Drop In Gas Prices

HAMMOND, Ind. (CBS) — The good news keeps coming when it comes to gas prices.

As WBBM Newsradio’s Mike Krauser reports, gas prices as low as $3.32 appeared Wednesday in Indiana. If BP general manager for global energy markets Mark Finley is on target, gas could dip well below $3 in the Chicago area this summer.

Finley spoke Tuesday to members of the Lakeshore Chamber of Commerce in Hammond, Ind.

The Northwest Indiana Times quotes him as saying, “It looks like there may be further decreases in store at the pump.”

Finley cited dropping oil prices, but he also noted the fickle nature of pricing a gallon of gas, and said any supply disruption could stop the decline in prices, the Northwest Indiana Times reported.

Crude oil trading dropped from $110 per barrel in February to less than $80 recently on the New York Mercantile Exchange, the Times reported. The average price of a gallon of regular gasoline dropped from $3.64 a month ago to $3.40 now, the newspaper reported Tuesday.

Across the state line in the Chicago area, ChicagoGasPrices.ocm says the lowest figure for a gallon of gas is $3.39 – at the Citgo station at 1740 W. Army Trail Blvd. in Addison, the Sam’s Club at 7430 Woodward Ave. in Woodridge, and the Costco at 830 E. Boughton Rd. in Bolingbrook.

The highest price Wednesday morning was $4.19 – seen at four gas stations on Cicero Avenue between the Stevenson Expressway at Midway International Airport.